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Stock Compensation Plans (Tables) | 6 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Activity of Stock Option Plans | The activity of the stock option plans during the six month period ended June 30, 2025, is summarized as follows: Schedule of Activity of Stock Option Plans
|  | Number of Class A Shares |  |  | Weighted Average Exercise Price (2) |  |  | Number of Class C Shares |  |  | Weighted Average Exercise Price (2) |
Outstanding at December 31, 2024 |  |  | 646,594 |  |  | $ | 5.63 |  |  |  | 1,724,400 |  |  | $ | 6.87 |
Adjustment for the effect of stock dividends |  |  | 27,898 |  |  |  |  |  |  |  | 80,571 |  |  |  |  |
Granted |  |  | 24,000 |  |  |  |  |  |  |  | - |  |  |  |  |
Exercised |  |  | (112,735 | ) |  |  |  |  |  |  | (113,023 | ) |  |  |  |
Cancelled |  |  | 76 |  |  |  |  |  |  |  | - |  |  |  |  |
Outstanding at June 30, 2025 |  |  | 585,833 |  |  | $ | 5.93 |  |  |  | 1,691,948 |  |  | $ | 7.13 |
As of June 30, 2025: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options exercisable |  |  | 546,483 |  |  | $ | 5.48 |  |  |  | 1,526,948 |  |  | $ | 8.64 |
As of June 30, 2025: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available options for future grant |  |  | 2,156,404 |  |  |  |  |  |  |  | 678,550 |  |  |  |  |
Weighted average contractual term of options outstanding at June 30, 2025 |  |  | 5.30 years |  |  |  |  |  |  |  | 6.39 years |  |  |  |  |
Weighted average contractual term of options exercisable at June 30, 2025 |  |  | 4.99 years |  |  |  |  |  |  |  | 6.11 years |  |  |  |  |
Aggregated intrinsic value of options outstanding at June 30, 2025 (1) |  | $ | 1,811,956 |  |  |  |  |  |  | $ | 3,200,152 |  |  |  |  |
Aggregated intrinsic value of options exercisable at June 30, 2025 (1) |  | $ | 1,933,277 |  |  |  |  |  |  | $ | 3,780,038 |  |  |  |  |
(1) | The Company used a stock price of $9.02 as of June 30, 2025 to derive intrinsic value.
(2) | Adjusted for the effect of annual stock dividends.
SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements June 30, 2025 (Unaudited)
5) | Stock Compensation Plans (Continued)
The activity of the stock option plans during the six month period ended June 30, 2024, is summarized as follows:
|  | Number of Class A Shares |  |  | Weighted Average Exercise Price (2) |  |  | Number of Class C Shares |  |  | Weighted Average Exercise Price |
Outstanding at December 31, 2023 |  |  | 833,570 |  |  | $ | 5.22 |  |  |  | 1,520,062 |  |  | $ | 5.86 |
Adjustment for the effect of stock dividends |  |  | 38,724 |  |  |  |  |  |  |  | 76,005 |  |  |  |  |
Granted |  |  | 16,500 |  |  |  |  |  |  |  | - |  |  |  |  |
Exercised |  |  | (45,671 | ) |  |  |  |  |  |  | - |  |  |  |  |
Cancelled |  |  | (16,538 | ) |  |  |  |  |  |  | - |  |  |  |  |
Outstanding at June 30, 2024 |  |  | 826,585 |  |  | $ | 5.09 |  |  |  | 1,596,067 |  |  | $ | 5.57 |
As of June 30, 2024: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options exercisable |  |  | 768,960 |  |  | $ | 4.89 |  |  |  | 1,443,567 |  |  | $ | 5.35 |
As of June 30, 2024: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available options for future grant |  |  | 38,564 |  |  |  |  |  |  |  | 556,238 |  |  |  |  |
Weighted average contractual term of options outstanding at June 30, 2024 |  |  | 5.05 years |  |  |  |  |  |  |  | 6.00 years |  |  |  |  |
Weighted average contractual term of options exercisable at June 30, 2024 |  |  | 4.72 years |  |  |  |  |  |  |  | 5.75 years |  |  |  |  |
Aggregated intrinsic value of options outstanding at June 30, 2024 (1) |  | $ | 2,083,992 |  |  |  |  |  |  | $ | 3,255,564 |  |  |  |  |
Aggregated intrinsic value of options exercisable at June 30, 2024 (1) |  | $ | 2,089,110 |  |  |  |  |  |  | $ | 3,264,864 |  |  |  |  |
(1) | The Company used a stock price of $7.61 as of June 30, 2024 to derive intrinsic value.
(2) | Adjusted for the effect of annual stock dividends.
Schedule of Activity Restricted Stock Units | Activity of the RSUs during the six month period ended June 30, 2025, is summarized as follows: Schedule of Activity Restricted Stock Units
|  | Number of Class A Shares |  |  | Weighted Average Grant Date Fair Value |
Non-vested at December 31, 2024 |  |  | 12,813 |  |  | $ | 12.90 |
Granted |  |  | - |  |  |  |  |
Vested |  |  | (3,547 | ) |  |  |  |
Non-vested at June 30, 2025 |  |  | 9,266 |  |  | $ | 13.08 |
Available RSUs for future grant |  |  | 504,187 |  |  |  |  |
Activity of the RSUs during the six month period ended June 30, 2024, is summarized as follows:
|  | Number of Class A Shares |  |  | Weighted Average Grant Date Fair Value |
Non-vested at December 31, 2023 |  |  | 2,245 |  |  | $ | 7.72 |
Granted |  |  | - |  |  |  |  |
Vested |  |  | (865 | ) |  |  |  |
Non-vested at June 30, 2024 |  |  | 1,380 |  |  | $ | 7.99 |
Available RSUs for future grant |  |  | 16,540 |  |  |  |  |

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